Vietnam Plastic Pail Industry Outlook from (2023 and 2033)
As per the latest analysis, plastic pail sales in Vietnam are expected to total US$ 70.3 million in 2023 and US$ 97.2 million by 2033. Over the forecast period, demand for plastic pails in Vietnam is predicted to rise at a CAGR of 3.3%. The Vietnam plastic pail revenue reached USD 68.2 million at the end of 2022 and is set to exhibit a y-o-y growth of 3.1% in 2023.
Plastic pails used in the chemicals sector acquired more than 1/4th of the business considering end-use in 2023. HDPE pails are anticipated to generate more than 1/4th of revenue share in 2023, exhibiting a CAGR of 2.4% over the forecast period.
Key Factors Driving Sales of Plastic Pails in Vietnam-
Growing demand for sustainable packaging solutions to boost sales of plastic pails.
Rapid penetration of industrialization is expected to drive demand for plastic pails in Vietnam.
Rising awareness about the benefits of plastic packaging solutions will likely bolster plastic pail sales and boost the Vietnam plastic container business.
Increasing adoption of sustainable materials such as bioplastics and recycled plastic for making plastic pails will bode well for the plastic bucket business in Vietnam.
Increasing demand for bottled pharmaceutical containers is anticipated to create new opportunities for plastic pail manufacturers in Vietnam.
The emergence of new plastic packaging container trends, including the usage of eco-friendly materials, will facilitate growth.
Rising trade activities are set to create growth prospects for the plastic bucket business in Vietnam.
Attributes
Key Insights
Vietnam Plastic Pail Sales Value in 2022
US$ 68.2 million
Estimated Vietnam Plastic Pail Business Revenue (2023)
US$ 70.3 million
Projected Vietnam Plastic Pail Sales Value (2033)
US$ 97.2 million
Value CAGR (2023 to 2033)
3.3%
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Historical Performance Vs. 2023 to 2033 Plastic Pail Sales Forecast in Vietnam
Sales of plastic pails in Vietnam recorded a CAGR of 1.7% from 2018 to 2022. Total revenue in the country reached US$ 68.2 million at the end of 2022. Over the assessment period, plastic pail demand in Vietnam is projected to increase at a 3.3% CAGR.
Historical CAGR (2018 to 2022)
1.7%
Forecast CAGR (2023 to 2033)
3.3%
The Vietnam plastic pail business is expected to witness a positive growth trajectory during the forecast period. This is attributable to the rapid expansion of end-use industries and the growing need for convenient, rigid, and lightweight packaging solutions.
Food, beverage, chemical, personnel care, and healthcare are leading consumers of plastic pails across Vietnam. These sectors use plastic pails to store and transport a wide range of products.
Food and beverage sectors need packages that provide optimum protection against external contaminants and offer easier transportation. As a result, they are opting for packaging solutions such as plastic pails. These pails are also used for storing light food items, such as dairy items, and bulky products, including cereals and sweets.
Plastic pails with good chemical resistance, water tightness, and sturdiness are getting more traction in the chemical sector. This is because they offer good adaptability for packaging paints, glues, cleaning, and agrochemical products.
Beauty and personal care sectors for the packaging of creams, scrubs, hair masks, and body lotions often adopt plastic pails. This packaging provides optimal protection for several cosmetics items. They also help with the practical and efficient distribution of products.
In the medical sector, plastic pails are widely used for the storage and transportation of medical equipment, medicines, surgical supplies, and several waste products. The high flexibility, convenience, and lightweight nature are key factors for these sectors to adopt plastic pails, while the capacity and type of plastic play a considerable role in their adoption.
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Overview of Key Trends Shaping Plastic Pail Business Growth
Growing Emphasis on Space Efficiency Creating Demand for Square-based Pails
Square-based plastic pails are experiencing considerable traction due to their space efficiency compared to their alternate round-based pails. This advantage helps them to optimize the storage and transportation space as it would utilize the limited warehouse space.
A recent study on the space utilization between square-based pails and round-based pails revealed that square-based pails are around 30% more efficient than round-based pails. The adoption of square-based pails can improve the cost efficiency for the manufacturers and end-users.
For eco-conscious consumers, the reduced space requirements will lead to fewer materials used for the transportation and storage of resources. This will reduce the use of harmful plastic products and can align with sustainable practices. These factors will continue to affect the efficiency of the packaging and are expected to improve in the estimated period. Manufacturers can adopt multiple techniques to improve space efficiency and gain revenues.
Understanding Crucial Drivers Impacting Vietnam’s Plastic Pail Business
Material Innovation in Plastic Pails
Plastic pail manufacturers have started to focus on the innovation of materials. Lighter and stronger materials have a greater advantage for the transportation and storage of products. These materials protect the integrity of products and help for smooth and efficient transportation. This innovation not only improves the structural integrity of the packaging but also enhances the sustainability goals.
The reduction in the weight of the plastic pails will lower the transportation cost. Manufacturers can use this benefit to improve the distribution mode and reduce their carbon footprint.
Biodegradable plastics are becoming ideal materials for plastic pail manufacturers as they reduce the problem of plastic waste. The adoption of these plastics can have an added advantage in the sector due to the rising concern over environmental issues.
The usage of bio-plastics will reduce the dependency on environmentally degrading fossil-based plastics. Manufacturers can adopt these techniques to comply with environmental regulations and expand their customer base.
The growing demand for sustainable packaging solutions is expected to foster Vietnam’s plastic pail business growth. Similarly, the implementation of stringent regulations can create new growth prospects for the Vietnam plastic container sector.
Utilization of Heavy-duty Polyethylene Pails Boosts Sales
The growing adoption of innovation and the regulatory shift have compelled the manufacturers of plastic pails to adopt cutting-edge polythene-based pails. These pails are manufactured specifically for carrying heavy loads and reduce the impact of wear and tear.
The adoption of rubber or liquid gaskets in the lids of the pails will provide multiple advantages, such as preservation of product integrity, reduce the risk of spill, and ease of transportation. This will improve the confidence of the end users to adopt these pails.
Manufacturers can add tamper-evident features in their pails to further enhance their quality and attractiveness. This will bode well for the target business.
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Comparative View of Adjacent Vietnam Plastic Pail Businesses
The Vietnam plastic pail business will likely be impacted by the peer or tangential businesses in the packaging division. This includes businesses such as square pails and industrial pails. On analysis of these related industries, profound insights have been found that will be helpful for developing unique differentiating strategies to pursue growth and opportunity.
Vietnam Plastic Pail Sales Forecast:
Attributes
Vietnam Plastic Pail Sales Forecast
CAGR (2023 to 2033)
3.3 %
Sales Value (2023)
US$ 70.3 million
Growth Factor
The rising demand for durable, lightweight, and cost-effective packaging solutions is expected to boost the Vietnam plastic pail business growth.
Key Trend
The growing focus on sustainable, high-quality, and versatile plastic pails and the adoption of bioplastics are key trends in Vietnam's plastic pail business.
Square Pail Industry Analysis:
Attributes
Square Pail Industry Analysis
CAGR (2023 to 2033)
6.0%
Sales Value (2023)
US$ 21.2 billion
Growth Factor
The space-saving design that reduces the cost of packaging by enabling the storage of products in small cube space is expected to drive demand for square pails.
Key Trend
The adoption of food-grade pails with taps in the food, beverage, and chemicals sectors is a key trend impacting sales.
Analysis of the Industrial Pail Sector:
Attributes
Analysis of the Industrial Pail Sector
CAGR (2023 to 2033)
4.6%
Sales Value (2023)
US$ 8.2 billion
Growth Factor
The growing demand for bulk packaging with good barrier properties will likely boost sales of industrial pails.
Key Trend
Innovation in industrial pail materials and design is a key trend in the target business.
Exploring the Vietnam Plastic Pail Business based on Category-wise Segments
The section below shows the HDPE segment dominating the Vietnam plastic pail business. It is expected to thrive at a 2.4% CAGR during the assessment period. Based on capacity, the 18 L to 20 L segment is set to account for a prominent revenue share, expanding at a CAGR of 3.5%.
Manufacturers Prefer HDPE for Producing Plastic Pails
Material
Value CAGR
HDPE
2.4%
PET
4.6%
As per the latest plastic pail analysis, HDPE remains the most widely used material for making plastic pails across Vietnam. This is due to several benefits of HDPE and growing end-user preference for HDPE-based pails.
The HDPE-based pails segment is expected to thrive at a CAGR of 2.4% during the forecast period. It will likely hold more than 1/4th of the revenue share in Vietnam by 2023. This dominance is attributed to the fact that HDPE is easily recyclable, reusable, and compatible with a diverse range of businesses.
On the other hand, the PET segment is anticipated to record a higher CAGR of 4.6% during the assessment period. This is because PET-based pails are more transparent, temperature-efficient, and cost-efficient than HDPE-based pails.
Below 18 L Pails to Generate Significant Revenue in Vietnam
Capacity
Value CAGR
18 L to 20 L
3.5%
Below 18 L
4.2%
Based on capacity, the 18 L to 20 L plastic pails segment is expected to dominate Vietnam at the beginning of the forecast period, while at the end of the forecast period, the below 20 L segment will likely dominate. This is because even though plastic pails in the range of 18 L to 20 L offer ideal capacity, several end-users prefer lower-sized pails due to convenience and emphasis on reducing leftover products.
As per the latest analysis, demand for below 18 L plastic pails in Vietnam is predicted to increase at a 4.2% CAGR during the assessment period. By 2033, the target segment will likely account for about 2/5th of the revenue share.
Competitive Landscape
Vietnam, a growing industrial hub with good opportunities for innovation in multiple sectors, observes a region-wise variety in customer behavioral patterns and rigid packaging trends. Vietnam-based plastic pail companies are primarily focused on improving material quality and sustainable integrity.
Prominent plastic pail companies in Vietnam include Alpla Group, Nhat Tien Manufacturing & Trading Co., Chan Thuan Plastic, Vinh Thanh Plastic Company Limited, Vietnam Button Cap Manufacturing Joint Stock Company, Oriental Plastic Company, Thuan Thiên Co, Ltd, and several others.
Strategies Adopted by Plastic Pail Manufacturers in Vietnam-
Product Innovation: Prominent manufacturers of plastic pails adopt several techniques to differentiate their products and attract consumers. They are adding features such as better grip and efficient lids to make their products better for storage and transportation.
Quality Assurance and Compliance: Plastic pollution is one of the key issues facing Vietnam. Strict regulatory measures taken by the administration are prompting manufacturers to improve the quality and safety of their pails. Manufacturers acquire several certifications to keep up to date with the administration requirements and gain consumer trust.
Scope of the Report
Attribute
Details
Estimated Value (2023)
US$ 70.3 million
Projected Value (2033)
US$ 97.2 million
Anticipated Growth Rate (2023 to 2033)
3.3% CAGR
Historical Data
2018 to 2023
Forecast Period
2023 to 2033
Quantitative Units
Revenue in US$ million and Volume in ‘000 Units
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered
Material
Capacity
End-use
Key Sub Regions Covered
South Vietnam
Central Vietnam
North Vietnam
Key Companies Profiled
ALPLA Group
Nhat Tien Manufacturing & Trading Co.
Chan Thuan Plastic
Vinh Thanh Plastic Company Limited
Vietnam Button Cap Manufacturing Joint Stock Company
Oriental Plastic Company
Thuan Thiên Co. Ltd
Vietnam Plastic Pail Industry Analysis by Category
By Material:
HDPE
PET
PP
PVC
By Capacity:
Below 18 L
18 L to 20 L
Above 20 L
By End-use:
Oleo-chemicals
Food & Beverage
Flavors & Fragrances
Paints, Industrial Coatings, Chemicals
Petroleum & Lubricants
Pharmaceuticals
Agrochemicals
Others (Cosmetics, Personal care, Household)
By Sub-region:
South Vietnam
Central Vietnam
North Vietnam
Table of Content
1. Executive Summary
1.1. Industry Outlook
1.2. Industry Analysis
1.3. Analysis and Recommendations
2. Business Overview
2.1. Business Coverage / Taxonomy
2.2. Business Definition / Scope / Limitations
3. Key Trends
3.1. Key Trends Impacting Sales Growth
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USP’s / Features
4.3. Strategic Promotional Strategies
5. Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
5.1. Historical Volume (000’ Units) Analysis, 2018 to 2022
5.2. Current and Future Volume (000’ Units) Projections, 2023 to 2033
5.3. Y-o-Y Growth Trend Analysis
6. Pricing Analysis
6.1. Pricing Analysis
6.2. Average Pricing Analysis Benchmark
7. Demand (in Value or Size in US$ Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033
7.1. Historical Value (US$ Million) Analysis, 2018 to 2022
7.2. Current and Future Value (US$ Million) Projections, 2023 to 2033
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Business Background
8.1. Parent Business Overview
8.2. Macro-economic Factors
8.3. Forecast Factors - Relevance & Impact
8.4. Value Chain
8.4.1. Raw Product Suppliers
8.4.2. Label Manufacturers
8.4.3. Label Category
8.5. Case Based Scenario – Impact Assessment
8.5.1. Current Statistics
8.5.2. Short-Mid-Long Term Outlook
8.5.3. Likely Rebound
8.6. Key Dynamics
8.6.1. Drivers
8.6.2. Restraints
8.6.3. Opportunity Analysis
9. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material
9.1. Introduction / Key Findings
9.2. Historical Size Value (US$ Million) & Volume (000’ Units) Analysis By Material, 2018 to 2022
9.3. Current and Future Size Value (US$ Million) & Volume (000’ Units) Analysis and Forecast By Material, 2023 to 2033
9.3.1. HDPE
9.3.2. PET
9.3.3. PVC
9.3.4. PP
9.4. Y-o-Y Growth Trend Analysis By Material, 2018 to 2022
9.5. Absolute $ Opportunity Analysis By Material, 2023 to 2033
10. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity
10.1. Introduction / Key Findings
10.2. Historical Size Value (US$ Million) & Volume (000’ Units) Analysis By Capacity, 2018 to 2022
10.3. Current and Future Size Value (US$ Million) & Volume (000’ Units) Analysis and Forecast By Capacity, 2023 to 2033
10.3.1. Below 18 L
10.3.2. 18 L to 20 L
10.3.3. Above 20 L
10.4. Y-o-Y Growth Trend Analysis By Capacity, 2018 to 2022
10.5. Absolute $ Opportunity Analysis By Capacity, 2023 to 2033
11. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use
11.1. Introduction / Key Findings
11.2. Historical Size Value (US$ Million) & Volume (000’ Units) Analysis By End-use, 2018 to 2022
11.3. Current and Future Size Value (US$ Million) & Volume (000’ Units) Analysis and Forecast By End-use, 2023 to 2033
11.3.1. Oleo-chemicals
11.3.2. Food & Beverage
11.3.3. Flavors & Fragrances
11.3.4. Paints, Industrial Coatings, Chemicals
11.3.5. Petroleum & Lubricants
11.3.6. Pharmaceuticals
11.3.7. Agrochemicals
11.3.8. Others (Cosmetics, Personal care, Household)
11.4. Y-o-Y Growth Trend Analysis By End-use, 2018 to 2022
11.5. Absolute $ Opportunity Analysis By End-use, 2023 to 2033
12. Industry Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sub-Region
12.1. Introduction / Key Findings
12.2. Historical Size Value (US$ Million) & Volume (000’ Units) Analysis By Sub-Region, 2018 to 2022
12.3. Current and Future Size Value (US$ Million) & Volume (000’ Units) Analysis and Forecast By Sub-Region, 2023 to 2033
12.3.1. North Vietnam
12.3.2. Central Vietnam
12.3.3. South Vietnam
12.4. Y-o-Y Growth Trend Analysis By Sub-Region, 2018 to 2022
12.5. Absolute $ Opportunity Analysis By Sub-Region, 2023 to 2033
13. Northern Industry Analysis 2018 to 2022 and Forecast 2023 to 2033
13.1. Introduction / Key Findings
13.2. Historical Size Value (US$ Million) & Volume (000’ Units) Analysis 2018 to 2022
13.3. Current and Future Size Value (US$ Million) & Volume (000’ Units) Analysis and Forecast 2023 to 2033
13.3.1. Material
13.3.2. Capacity
13.3.3. End-use
13.4. Business Attractiveness Analysis
13.4.1. Material
13.4.2. Capacity
13.4.3. End-use
14. Central Industry Analysis 2018 to 2022 and Forecast 2023 to 2033
14.1. Introduction / Key Findings
14.2. Historical Size Value (US$ Million) & Volume (000’ Units) Analysis 2018 to 2022
14.3. Current and Future Size Value (US$ Million) & Volume (000’ Units) Analysis and Forecast 2023 to 2033
14.3.1. Material
14.3.2. Capacity
14.3.3. End-use
14.4. Business Attractiveness Analysis
14.4.1. Material
14.4.2. Capacity
14.4.3. End-use
15. Southern Industry Analysis 2018 to 2022 and Forecast 2023 to 2033
15.1. Introduction / Key Findings
15.2. Historical Size Value (US$ Million) & Volume (000’ Units) Analysis 2018 to 2022
15.3. Current and Future Size Value (US$ Million) & Volume (000’ Units) Analysis and Forecast 2023 to 2033
15.3.1. Material
15.3.2. Capacity
15.3.3. End-use
15.4. Business Attractiveness Analysis
15.4.1. Material
15.4.2. Capacity
15.4.3. End-use
16. Business Structure Analysis
16.1. Industry Analysis by Tier of Companies (Plastic Pail)
16.2. Business Share Analysis of Top Players
16.3. Business Presence Analysis
17. Competition Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Competition Deep Dive
17.3.1. ALPLA Group
17.3.1.1. Overview
17.3.1.2. Product Portfolio
17.3.1.3. Profitability by Key Segments (Material/Capacity/End-use/Sub-region)
17.3.1.4. Sales Footprint
17.3.1.5. Strategy Overview
17.3.1.5.1. Business Strategy
17.3.1.5.2. Product Strategy
17.3.1.5.3. Channel Strategy
17.3.2. Nhat Tien Manufacturing & Trading Co.
17.3.2.1. Overview
17.3.2.2. Product Portfolio
17.3.2.3. Profitability by Key Segments (Material/Capacity/End-use/Sub-region)
17.3.2.4. Sales Footprint
17.3.2.5. Strategy Overview
17.3.2.5.1. Business Strategy
17.3.2.5.2. Product Strategy
17.3.2.5.3. Channel Strategy
17.3.3. Chan Thuan Plastic
17.3.3.1. Overview
17.3.3.2. Product Portfolio
17.3.3.3. Profitability by Key Segments (Material/Capacity/End-use/Sub-region)
17.3.3.4. Sales Footprint
17.3.3.5. Strategy Overview
17.3.3.5.1. Business Strategy
17.3.3.5.2. Product Strategy
17.3.3.5.3. Channel Strategy
17.3.4. Vinh Thanh Plastic Company Limited
17.3.4.1. Overview
17.3.4.2. Product Portfolio
17.3.4.3. Profitability by Key Segments (Material/Capacity/End-use/Sub-region)
17.3.4.4. Sales Footprint
17.3.4.5. Strategy Overview
17.3.4.5.1. Business Strategy
17.3.4.5.2. Product Strategy
17.3.4.5.3. Channel Strategy
17.3.5. Vietnam Button Cap Company Ltd.
17.3.5.1. Overview
17.3.5.2. Product Portfolio
17.3.5.3. Profitability by Key Segments (Material/Capacity/End-use/Sub-region)
17.3.5.4. Sales Footprint
17.3.5.5. Strategy Overview
17.3.5.5.1. Business Strategy
17.3.5.5.2. Product Strategy
17.3.5.5.3. Channel Strategy
17.3.6. Oriental Plastic Company
17.3.6.1. Overview
17.3.6.2. Product Portfolio
17.3.6.3. Profitability by Key Segments (Material/Capacity/End-use/Sub-region)
17.3.6.4. Sales Footprint
17.3.6.5. Strategy Overview
17.3.6.5.1. Business Strategy
17.3.6.5.2. Product Strategy
17.3.6.5.3. Channel Strategy
17.3.7. Thuận Thiên Co, Ltd
17.3.7.1. Overview
17.3.7.2. Product Portfolio
17.3.7.3. Profitability by Key Segments (Material/Capacity/End-use/Sub-region)
17.3.7.4. Sales Footprint
17.3.7.5. Strategy Overview
17.3.7.5.1. Business Strategy
17.3.7.5.2. Product Strategy
17.3.7.5.3. Channel Strategy
*The above list is indicative in nature and is subject to change during the course of research
18. Assumptions and Acronyms Used19. Research Methodology
List of Tables
Table 01: Value (US$ Million) Analysis, by Material, 2018H to 2033F
Table 02: Volume (000’ Units) Analysis, by Material, 2018H to 2033F
Table 03: Value (US$ Million) Analysis, by Capacity, 2018H to 2033F
Table 04: Volume (000’ Units) Analysis, by Capacity, 2018H to 2033F
Table 05: Value (US$ Million) Analysis, by End-use 2018H to 2033F
Table 06: Volume (000’ Units) Analysis, by End-use 2018H to 2033F
Table 07: Value (US$ Million) Analysis, by Sub Region, 2018H to 2033F
Table 08: Volume (000’ Units) Analysis, by Sub Region, 2018H to 2033F
List of Charts
Figure 01: Business Share Analysis by Material, 2023E & 2033F
Figure 02: Business Y-o-Y Analysis by Material, 2018H to 2033F
Figure 03: Business Attractiveness Analysis by Material, 2023E to 2033F
Figure 04: Business Share Analysis by Capacity, 2023E & 2033F
Figure 05: Business Y-o-Y Analysis by Capacity, 2018H to 2033F
Figure 06: Business Attractiveness Analysis by Capacity, 2023E to 2033F
Figure 07: Business Share Analysis by End-use 2023E & 2033F
Figure 08: Business Y-o-Y Analysis by End-use 2018H to 2033F
Figure 09: Business Attractiveness Analysis by End-use 2023E to 2033F
Figure 10: Business Share Analysis by Sub Region, 2023E & 2033F
Figure 11: Business Y-o-Y Analysis by Sub Region, 2018H to 2033F
Figure 12: Northern Business Attractiveness Analysis by Material, 2023E to 2033F
Figure 13: Northern Business Share Analysis by Capacity, 2023E & 2033F
Figure 14: Northern Business Y-o-Y Analysis by End-use, 2018H to 2033F
Figure 15: Central Business Attractiveness Analysis by Material, 2023E to 2033F
Figure 16: Central Business Share Analysis by Capacity, 2023E & 2033F
Figure 17: Central Vietnam Plastic Business Y-o-Y Analysis by End-use, 2018H to 2033F
Figure 18: Southern Business Attractiveness Analysis by Material, 2023E to 2033F
Figure 19: Southern Business Y-o-Y Analysis by Capacity, 2018H to 2033F
Figure 20: Southern Business Attractiveness Analysis by End-use, 2023E to 2033F
